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fxJul 23, 2026, 5:05 PM

EUR/USD Bears Target Break Below 1.1350 as Middle East Tensions Boost Dollar

EUR/USD weakened on Thursday as rising oil prices from Middle East conflict and hawkish Fed expectations support the US dollar, with bears eyeing a break below 1.1350 support.

EURUSD

EUR/USD is trading on the back foot on Thursday as escalating conflict in the Middle East pushes oil prices higher. The move fuels expectations of a more hawkish Federal Reserve, boosting demand for the US dollar.

Bears are now targeting a break below the key support level of 1.1350. A sustained move lower could open the door for further losses in the pair.

Source: FXStreet Forex News